Economy News

ABI Expresses ‘Disappointment” on UK Gov’t. Plans to Cut Flood Funds

The newly installed UK government has been announcing cutbacks in all sectors of the economy in order to bring down Britain’s budget deficit. The cuts will effect investment in flood defense spending as well. Nick Starling, the Association of British …

Analysts Watching How Insurers Handle Low Interest Rates, Pricing

Insurers are under growing pressure from two fronts, each of which promises to be a key focus in earnings reports the next two weeks — depressed interest rates that could dampen investment income in coming years and tight markets that …

P/C Executives Encouraged to Be Optimistic Amid America’s Challenges

An executive of a national insurance company trade group told insurance CEOs and senior executives that America faces a struggle between two competing visions for the future – a choice between a free market system and an expanded federal government. …

Report Concludes Invasive Species, Climate Change, Form ‘Deadly Duo’

Climate change is set to drive the spread of invasive plant and animal species, threatening forests, fisheries and crops, in a double blow to nature and livelihoods, a World Bank-funded report said on Friday. The study by Nairobi-based Global Invasive …

California Commissioner Hopeful: Assemblyman Mike Villines

The election for California Insurance Commissioner is a weighty one. The person selected will be in charge of regulating the approximately 1,500 insurance companies doing business in the state. Assemblyman and Republican Mike Villines recently shared his views on workers’ …

California Commissioner Hopeful: Assemblyman Dave Jones

On November 2, Californians will select a new insurance commissioner, charged with regulating the fourth-largest insurance market in the world at about $160 billion. Assemblyman and Democrat Dave Jones recently shared why he has the experience to tackle such topics …

French Retirement Protests Take Violent Turn

Masked youths clad in black have torched cars, smashed storefronts and thrown up roadblocks, clashing with riot police across France as protests over raising the retirement age to 62 took a radical turn. Hundreds of flights were canceled Tuesday as …

Willis Consolidates, US, UK Group Mining Practice

Willis Group Holdings announced that it has incorporated its US, UK and International hubs of mining expertise into one worldwide group practice, which will report to Steve Hearn, London-based Chairman of Global Markets International (GMI). The new group will bring …

Tide of History Runs against Would-be G20 ‘Grand Bargain’

Speculation of a grand bargain by the Group of 20 to rebalance the global economy is swirling ever faster thanks to China’s surprise decision to raise interest rates for the first time since 2007. Higher rates ought to push up …

U.S. Says ‘End is in Sight” on Russia’s Bid to Join the WTO

Russia could join the World Trade Organization within a year after talks on Moscow’s 17-year-old bid made good progress, President Barack Obama’s senior economic adviser said on Wednesday. “We are certainly hopeful that well before 12 months from now, this …